Subsidiary1 Jun 2026, 07:32 pm
ISGEC Issues USD 0.902 Million Guarantee for Eswatini Subsidiary
AI Summary
ISGEC Heavy Engineering Ltd issued a counter guarantee of USD 0.902 million (approximately ₹8.58 crores) through its bankers in favor of the bankers of its wholly-owned subsidiary, Isgec Eswatini (Proprietary) Limited, Eswatini. This follows an earlier approval on May 1, 2026, for guarantees up to USD 1.1957 million. The guarantee will enable Isgec Eswatini's bankers to issue performance and other bank guarantees to its customers and customs authorities for executing existing orders.
Key Highlights
- ISGEC issued a counter guarantee of USD 0.902 million for its Eswatini subsidiary.
- The guarantee is issued through ISGEC's bankers to the subsidiary's bankers.
- This facilitates the subsidiary in providing bank guarantees to its customers.
- The initial approval for guarantees was up to USD 1.1957 million.
- The issuance complies with SEBI regulations.
Price Impact
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